Shiba Inu Breaks Losing Streak—Can It Still Hit $0.001?

• Shiba Inu (SHIB) printed its first green candle after a seven-day decline.
• The price must reclaim $0.00001990 to confirm a potential rebound.
• Analysts remain divided on whether SHIB can reach $0.001.

Shiba Inu (SHIB) printed its first green daily candle after a seven-day losing streak, sparking fresh discussions about its long-term potential.

Some analysts believe the token could still hit $0.001, but it would require a 4,880% surge, pushing its market cap to $589.25 Billion.

At press time, SHIB was trading at $0.00001842, reflecting a 2.90% decline over the past 24 hours. The token had been in a steady downtrend, with sellers dominating the market and driving prices lower.

SHIB dropped below key support levels and reached a low of $0.00001700 before showing a slight recovery.

Shiba Inu Finds Temporary Relief After a Week-Long Decline

Shiba Inu (SHIB) has finally registered a green candle following a brutal seven-day losing streak. The meme coin faced strong selling pressure, breaking below key support levels and reaching a low of $0.00001700. It is trading at $0.00001853, sparking discussions about a possible rebound.

Shiba Inu’s price decline accelerated after it lost the crucial 200-day exponential moving average (EMA) at $0.00002078. This breakdown triggered additional selling pressure, pushing the asset toward the $0.00001700 range. A lack of strong buy-side momentum and weak trading volume contributed to SHIB’s extended downturn.

The Relative Strength Index (RSI) had entered oversold territory, indicating that SHIB was heavily undervalued.

SHIB must break above $0.00001990 for a sustained rebound, aligning with a key resistance zone in the chart. The next hurdles are at $0.00002078 and $0.00002200. A breakout past these levels could confirm a trend reversal.

If SHIB fails to reclaim lost ground, sellers may lower the price. The descending triangle’s lower boundary suggests a breakdown could accelerate losses.

Can Shiba Inu Realistically Hit $0.001?

Despite its recent price decline, some analysts remain optimistic about Shiba Inu (SHIB). Shib Knight argues that SHIB could reach $0.001, which would require a 5,308% surge.

Mama Whale takes a more cautious stance, suggesting SHIB could hit $0.0001 soon, but with only days left in January, this seems unlikely.

SHIB last approached $0.0001 in October 2021, when it hit an all-time high (ATH) of $0.00008845. If it reclaims that level, a further push to $0.0001 becomes more plausible.

However, reaching $0.001 would demand a 4,880% rally, raising its market cap to about $589.25 Billion—more than many major financial institutions.

Some analysts still see this as achievable. In October, Crypto Sheriff identified a bullish breakout in SHIB’s 4-hour price chart, suggesting it could fuel a move toward $0.001.

Similarly, LuckSide pointed to increased whale accumulation and declining retail interest as potential catalysts for a rally.

The $0.01 target remains highly unlikely, requiring a 49,700% surge and a $5.89 trillion market cap—bigger than several major economies.

Despite this, Luis Delgado (Del Crxpto) and Shiba Inu marketing lead Lucie remain optimistic. Del Crxpto responded to skepticism, saying,

For SHIB to confirm a bullish reversal, it must break above $0.00001990, a key resistance level that previously served as strong support. If this happens, SHIB could target $0.00002078 and eventually $0.00002200.

On the downside, failure to sustain its recent gains could send SHIB back to $0.00001700. In a worst-case scenario, prices could drop further to $0.00001500.

While ambitious targets like $0.001 remain distant, SHIB’s ecosystem developments—such as Shibarium and SHIB: The Metaverse—could boost adoption. Until then, SHIB’s price action will depend on broader market sentiment and investor demand.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.